PR Newswire
NEW YORK, Aug. 22, 2019
NEW YORK, Aug. 22, 2019 /PRNewswire/ -- With 2019's peak hurricane season (which starts in August and ends in October) underway, a new ValuePenguin.com survey has found that homeowner attitudes do not reflect the real risk of storm damage. While 77% of homeowners said that they felt prepared for hurricane season, nearly one in four homeowners haven't made any hurricane safety preparations.
More worryingly, the majority of surveyed homeowners severely underestimate the potential cost of hurricane and flood damage. When asked, over 50% of survey respondents estimated that the average home would require less than $10,000 in damage repairs after a hurricane or flood. Those estimates undershot the average claim amounts for wind and hail damage ($10,200) as well as for flood damage ($92,000).
Key Findings:
To understand homeowners attitudes towards the 2019 Atlantic Hurricane Season, ValuePenguin analysts commissioned Qualtrics to conduct an online survey of 1,050 homeowners in America, with the sample base proportioned to represent the general population of homeowners. The survey was fielded in early August 2019.
To view the full report, visit: https://www.valuepenguin.com/hurricane-prone-homeowners-substitute-confidence-for-preparedness
About ValuePenguin.com: ValuePenguin.com, part of LendingTree (NASDAQ: TREE), is a personal finance website that conducts in-depth research and provides objective analysis to help guide consumers to the best financial decisions. ValuePenguin focuses on value, assessing whether the return of a particular decision is worth the cost or risk of that option, and how this stacks up with the other possible choices they may have. For more information, please visit www.valuepenguin.com, like our Facebook page or follow us on Twitter @ValuePenguin.
CONTACT: [email protected]
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SOURCE ValuePenguin.com
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